"...the studies also point to huge chasms between America’s wealthiest and the rest of its citizens, particularly when you look at the long-term trends.
The bottom three quintiles of Americans, as measured by net worth, gained little wealth over the past 24 years, Pew found, but the top quintile’s wealth rose from just over $600,000 in 1989 to nearly $1 million in 2013.
And one in five households (not the wealthy ones) regularly rely on “fringe financial services” to meet their needs, according to CFED. This means, for instance, they’re using high-cost predatory lenders to borrow. African-American, Latino and Native American households are substantially more likely to be unbanked, says CFED."
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